Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "USA Honey Market, By Type, By Type, By Pack Size, By Packaging, By Application, By Distribution Channel, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
USA honey market held a market value of USD 2,473.5 million in 2021 and is likely to reach USD 4,970.3 million by the year 2030
The market is anticipated to register a CAGR of 8.7% during the forecast period. The market registered a volume of 200.75 thousand tons in 2021, with a growth rate of 6.1% over the forecast period.
The USA honey market is likely to grow extensively over the anticipated period due to the rising demand for natural sweeteners and increasing utilization in drug manufacturing. Furthermore, the rising trend of health consciousness and awareness regarding the medicinal properties is fueling the market growth.
However, the rising adulteration in honey is hampering the market growth. The market is anticipated to reach USD 4,970.3 million by 2030. In addition to that, the key market players are actively involved in strategic collaborations, product development, launches, and mergers & acquisitions. The market is segmented based on product, type pack size, packaging, application, and distribution channel.
In addition to being used as a component in more and more health and cosmetic products, honey can be found in beverages, processed meals, jams, and jellies. The potential of these items to impart a pleasant taste in food and beverage products, along with their accessibility, is boosting market demand.
Additionally, honey has a variety of health benefits, such as the capacity to increase metabolic activity, regulate blood pressure, reduce the risk of diabetes, and even heal burn scars. As a result, it is frequently utilised in a variety of applications besides food and drink, including cosmetics and medicines, which is also expected to boost market growth.
In order to engage more consumers, product producers are developing unique launches. For instance, Dabur, an international company, introduced honey-infused syrups in July 2021, a new line of syrups and spreads. The product is a healthier alternative to the popular strawberry syrups and sweet chocolates on the market because it contains no added sugar.
Consumers are being encouraged to incorporate natural sweeteners into their diets and use less white sugar as a result of growing health consciousness. Natural sweeteners are a great option for customers due to their antibacterial and antioxidant characteristics. The product's longer shelf life and high affordability are two additional significant factors that favourably influence market growth.
Growth Influencers:
Rising demand for natural sweeteners
The leading market participants have a substantial chance for expansion due to the expanding population and the rising popularity of honey sweeteners.
Vegan honey is being introduced by a number of significant businesses, including Blenditup, Just Like Honey, and Vegan Honey Company. The food, beverage, and supplement industries have experienced great innovation as a result of customers' increased interest in health and wellness and the search for better-for-you items.
These businesses provide new natural products. The International Food Information Council (IFIC) Foundation's 2018 Food & Health Survey found that the majority of Americans consider the nutritional value of the foods and drinks they eat. When given the option to choose between an older version of a product that contained artificial ingredients and a newer version that did not, 69 percent of respondents chose the product without artificial ingredients, while 32 percent selected the older version.
Increasing utilization in drug manufacturing
Honey contains carbohydrates in the form of fructose and glucose monosaccharides, which are the most significant nutrients. As an antioxidant, anti-inflammatory, and anti-bacterial agent, honey has a significant impact on wound healing and promotes the adhesion of skin grafts. In the scientific literature, honey's importance has been acknowledged, and there is strong evidence to back up its antibacterial and antioxidant properties, ability to prevent coughs, ability to promote fertility, and ability to heal wounds.
Segments Highlights
- The processed segment held the highest market share of more than 80% in 2021.
- The clover segment held the highest market share with largest CAGR of 10.0% over the forecast period.
- The 200-250 gm segment is expected to reach USD 2,932.4 million during 2030.
- The glass jar segment is estimated to hold the highest CAGR close to 9% during forecast period.
- The food and beverage segment dominates the market with more than 60% of market share.
- The online segment is expected to grow with highest share of more than 55%.
A selection of companies mentioned in this report includes
- Bee Natural Honey
- Layneyhoney
- Beefolks
- Honeytree
- Geesbees
- Mtnhoney
- Desert Creek Honey
- Cystal's honey
- Bare Honey
- Dutch Gold Honey, Inc.
- Natures Nate
- Oha Honey
For more information about this report visit https://www.researchandmarkets.com/r/bfx3t
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